SOCIAL COSTS OF MONETARY UNION

Unemployment: Mass layoffs could result as East Germans reject their own goods in favor of Western ones. Fixed incomes: East German pensioners could see their incomes shrivel to a third of what they normally receive if the currency shift were made at a more realistic rate of perhaps 1 to 3 instead of a straight 1 to 1 rate.

Savings: East Germans are concerned that their often considerable savings will be nearly wiped out if marks are converted at market-realistic rates.

You've read 3 of 3 free articles. Subscribe to continue.
QR Code to SOCIAL COSTS OF MONETARY UNION
Read this article in
https://www.csmonitor.com/1990/0215/o1mod.html
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe
CSM logo

Why is Christian Science in our name?

Our name is about honesty. The Monitor is owned by The Christian Science Church, and we’ve always been transparent about that.

The Church publishes the Monitor because it sees good journalism as vital to progress in the world. Since 1908, we’ve aimed “to injure no man, but to bless all mankind,” as our founder, Mary Baker Eddy, put it.

Here, you’ll find award-winning journalism not driven by commercial influences – a news organization that takes seriously its mission to uplift the world by seeking solutions and finding reasons for credible hope.

Explore values journalism About us